Welcome! Ready to maximize your $ME tokens? This guide introduces you to staking and questing. Whether you're new to staking or curious about completing quests, we've got you covered with everything you need to get started.
What is the $ME Token?
The $ME token powers the on-chain economy and represents the most powerful suite of cross-chain trading, minting, and wallet protocols. As the official token adopted by Magic Eden, $ME unites the largest community of on-chain users, allowing them to earn rewards for trading assets across all chains.
How do I get $ME tokens?
Exchanges: $ME is available on leading exchanges and decentralized exchanges (DEXs).
Claiming: If you used ME Foundation protocols before December 10, 2024, you may be eligible to claim tokens. Refer to this guide for details.
Staking & Quests: Earn $ME through active participation by staking your tokens and completing quests.
Questing and Staking overview
Questing and staking are integral components of the $ME ecosystem, offering users opportunities to earn rewards and actively participate in the platform's growth.
Staking: Lock $ME tokens in a smart contract for a specified period to unlock quests and boost quest rankings. Longer and larger stakes increase ranking multipliers.
Questing: Engage in specific tasks or challenges to earn $ME rewards at the end of each Chapter (90 days).
Note: Staking alone does not yield direct rewards. It unlocks quests and provides ranking multipliers. Additionally, all unclaimed $ME from the Token Generation Event (TGE) will eventually be distributed to users who stake their tokens.
How do Staking and Questing work together?
Staking: Unlocks quests and determines multipliers for quest rankings based on staking power (amount staked × duration).
Questing: Provides tasks to earn $ME, with rewards influenced by quest rank and staking power.
How do I start Staking my $ME?
Prepare Your Wallets: Link your wallets via the ME Foundation website to aggregate staking power across accounts.
Note for US Users: Wallet linking is unavailable for US users; staking power is not aggregated across wallets.
Access the Staking Platform: Available on the ME Foundation website, Magic Eden’s sites, and the Magic Eden mobile app.
Connect Your Wallet: Ensure your wallet contains $ME tokens.
Select Stake Amount and Duration: Choose the quantity of $ME to stake and the lock-up period (1 day to 4 years).
Confirm the Transaction: Approve the transaction in your wallet.
Monitor Staking Power: Your staking power impacts quest multipliers and rankings.
Important Staking mechanics
No retroactive power: Staking power applies only to future transactions. For example, if you stake 1 $ME for 7 days and later increase the stake to 10,000 $ME for 4 years, the enhanced staking power will not apply retroactively to completed quests.
Single stake bucket per wallet: Each wallet can only have one active stake timeframe (e.g., 7 days or 4 years). If you wish to stake additional $ME for a different duration, you must use a separate wallet.
Adding to an existing stake: Additional $ME aligns with the existing lock-up duration.
Extending durations: Increasing the duration applies to both new and previously staked tokens, boosting your multiplier.
Staked tokens cannot be withdrawn before the lock-up duration ends.
What are Magic Eden Quests?
Quests allow users to perform tasks to earn $ME rewards distributed at the end of each Chapter (90 days).
Quest types
Capped Quests: Can only be completed once or within a set timeframe.
Perpetual Quests: Available throughout the Chapter and can be repeated.
How to participate in Quests
Explore available Quests: Check the questing section on the staking platform or mobile app.
Select a Quest: Pick quests that match your interests.
Complete the task: Follow the provided instructions to finish the quest.
Ranking and payouts
Daily rankings: Updated daily at 10 AM PDT.
Linear rewards: Distributed at the end of the Chapter based on rankings.
Chapter 1 Quests
Buy a collectible or runes
Only NFTs priced at $100 or more (excluding fees) qualify.
For Solana and EVM, only items with the "Eligible for Quest Rewards" identifier will qualify, as those are natively listed on Magic Eden.
Direct purchases and purchases through bids are counted.
Runes are included in this category.
Must be using the Magic Eden Mobile App.
Trade tokens
Use the swap function within the Magic Eden mobile app.
Fiat on/off-ramps (e.g., Moonpay) are excluded.
There are no minimum or maximum limits on the amount swapped.
Trade NFTs
Aggregated listings (e.g., Tensor) are excluded.
For Solana and EVM, only items with the "Eligible for Quest Rewards" identifier will qualify, as those are natively listed on Magic Eden.
Runes are included in this category.
Use the mobile app weekly
Log in to the Magic Eden mobile app at least once per week.
Missing a week may partially affect your rewards, depending on the quest’s specific rules.
Make a swap
You must complete four swaps within 12 weeks.
Failing to do so results in no rewards for this quest.
Scoring & rankings
Ranking scores
Daily Updates: Rankings are recalculated every 24 hours based on activity.
Tiers by Percentile: Rankings reflect your standing compared to other participants (e.g., top 1%).
Reset Periods: Rankings reset at the end of each Chapter.
Improving Rankings
Complete more quests, especially Perpetual Quests.
Increase staking power by locking up more $ME for longer durations.
Reward Distribution
Rewards are allocated linearly based on rankings.
Higher ranking = Higher $ME payout.
FAQs
Staking & wallets
How is staking power aggregated across wallets? Wallets must be linked via the ME Foundation linking tool.
Can US users participate? US users can stake $ME but cannot currently link wallets.
Quests & rewards
Why isn’t my quest progress updating? Some quests may take several hours to update. If your progress doesn’t reflect, ensure your wallet is actively staking and linked. Persistent issues can be reported to support.
What happens if I miss a week? Missing a weekly quest may partially impact rewards; refer to individual quest rules for specifics.
Mobile-only Quests
Can Ledger wallets complete quests? No, Ledger is unsupported on the mobile app. Use a linked hot wallet.
For further assistance, visit our Help Center or contact support via the chat widget in the bottom-right corner of the page.